INDUSTRY NEWS

YEAR

  1. All
  2. 2013
  3. 2014

MONTH

  1. All
  2. JAN
  3. FEB
  4. MAR
  5. APR
  6. MAY
  7. JUN
  8. JUL
  9. AUG
  10. SEP
  11. OCT
  12. NOV
  13. DEC

CHANGE DATE

{if embed:display == 'info'}

06

Feb 2016

LG Investing $435 Million Into Solar PV Manufacturing

06 February 2016 | Posted by HLindon

LG Investing $435 Million Into Solar PV Manufacturing

The South Korean company LG, perhaps best known for its consumer electronics and electric vehicle (EV) batteries, has announced that it'll be investing $435 million in new funding into its solar photovoltaic (PV) manufacturing business.

The company is reportedly aiming to increase production capacity to 3 gigawatts (GW) -- up from the 1 GW where it rests now -- within 4 years. A memorandum of understanding with the Korean city of Gumi was recently signed -- with 6 new production lines now being slated for creation at the company's manufacturing facilities in the city.

The timeline for the expansion will see capacity increased to 1.8 GW by 2018, and 3 GW by 2020, according to the company.

The president and head of the Energy Business Centre at LG, Lee Sang-Bong commented on the plans, noting that they would put the company in a much stronger position, and be “a dynamic engine for growth.”

“LG has been actively involved in the solar energy business for two decades and we believe that mainstream consumers are more than ready to give solar more serious consideration,” he continued.

Renew Economy provides a bit more info:

In response to the news, US solar industry insider Jim Jenal -- founder & CEO of Run on Sun -- said such a significant increase in production by a company like LG offered the hope of lower prices for premium modules over time, “making top-of-the-line solar affordable for ‘mainstream consumers’.”

For LG’s operations in Australia, the news is a welcome sign of the company’s commitment to solar over the long term, according to LG Australia’s Russ Prendergast: “The LG Solar business in Australia has been building steadily over the past few years, and this has been well supported by LG globally with its 20-years plus experience in the solar market. What this announcement means to the Australian market is that LG is clearly communicating its firm commitment to the solar industry… as well as its intention to provide a greater supply of high-quality and high-efficiency solar panels to suit an ever growing Australian market for commercial and residential solar requirements. Our customers can be well assured that we are here for the long-term."

Post a Comment

Tweet
LinkedIn

06

Feb 2016

LG Investing $435 Million Into...

06

Feb 2016

First Phase (160 MW) Of Huge N...

04

Feb 2016

Wind Projects In Oklahoma Are ...

04

Feb 2016

Enel Secures $1 Billion Credit...

03

Feb 2016

Panasonic Partners With ezzing...

03

Feb 2016

IRENA: $6 Trillion In New Ener...

03

Feb 2016

China Wind Energy Installation...

03

Feb 2016

NOAA & NASA: 2015 Was Hott...

29

Jan 2016

Facebook Building ‚ā¨200 Milli...

29

Jan 2016

Shenzen Energy Launches China‚...

29

Jan 2016

Study: Russia & Central As...

27

Jan 2016

IHS: UK To Add 1 GW Of Energy ...

27

Jan 2016

“Go Ultra Low City Schem...

25

Jan 2016

Zayed Future Energy Prize Fina...

25

Jan 2016

Delhi Utility BSES Plans 700 M...

25

Jan 2016

Delhi Metro Signs MoU for 500 ...

25

Jan 2016

Masdar Demonstrates CSP Therma...

25

Jan 2016

First Solar & Southern Cal...

25

Jan 2016

Jordan Going Big With Solar Vi...

20

Jan 2016

Interviewing BYD Founder &...

20

Jan 2016

The 2016 Zayed Future Energy P...

18

Jan 2016

Study: Renewable Energy Auctio...

18

Jan 2016

Denmark Sets Yet Another New W...

17

Jan 2016

Algeria Installed ~268 MW Of N...

17

Jan 2016

SolarEdge’s StorEdge DC ...

17

Jan 2016

US Solar Jobs Greater Than Oil...

16

Jan 2016

UK Getting New Industrial-Scal...

16

Jan 2016

Panasonic Expanding Availabili...

16

Jan 2016

Report: Renewable Portfolio St...

16

Jan 2016

2 Billion Euros Might Be Used ...

13

Jan 2016

SMMT: Electric Vehicle Demand ...

13

Jan 2016

Brazil’s New 2024 Solar ...

12

Jan 2016

NREL & CSEM Achieve New Wo...

12

Jan 2016

WakaWaka Launches “#Shar...

12

Jan 2016

First VELUX Natural Light Sola...

11

Jan 2016

TXU Energy Launching “So...

11

Jan 2016

Panasonic Partnering With Denv...

11

Jan 2016

IHS Research Updates Global So...

11

Jan 2016

NREL Study: State Renewable Po...

07

Jan 2016

Enel Green Power Starts Constr...

07

Jan 2016

Enel Green Power Partnering Wi...

04

Jan 2016

IRENA & ADFD Open Applicat...

04

Jan 2016

Fraunhofer ISE Shows Off New C...

31

Dec 2015

Allianz & ABP Join Portfol...

31

Dec 2015

Nissan & ENEL Launch Vehic...

31

Dec 2015

Coca Cola & BMW Group Join...

31

Dec 2015

Third Phase Of DEWA 800 MW Sol...

31

Dec 2015

The Science Based Targets Init...

30

Dec 2015

Australian Floating Solar PV T...

30

Dec 2015

Masdar’s Desalination Pi...

29

Dec 2015

French Minister: The World Nee...

29

Dec 2015

M-Kopa Secures $19 Million In ...

29

Dec 2015

Renewable Energy Revolution Th...

29

Dec 2015

$50 Million Being Invested In ...

28

Dec 2015

350.org: Divestment Commitment...

28

Dec 2015

African Renewable Energy Initi...

24

Dec 2015

Solar Energy Adoption Is Boomi...

24

Dec 2015

Google Makes Largest Ever Rene...

21

Dec 2015

zHome Townhome Complex In Wash...

21

Dec 2015

Bloomberg: Developing Nations ...

21

Dec 2015

Richard Branson Wants Net-Zero...

20

Dec 2015

Vestas Announces 200 MW Wind T...

20

Dec 2015

Solar Power Overtakes Biomass ...

20

Dec 2015

India Achieves 5 GW Installed ...

20

Dec 2015

India Mulls 10% Solar Power Co...

20

Dec 2015

Gamesa Wins 100 MW Order From ...

16

Dec 2015

Global Green Bank Network Aims...

15

Dec 2015

80% Of BMW i3 Buyers New To BM...

15

Dec 2015

Study: US Could Aid Renewables...

14

Dec 2015

Plan To Invest $16 Billion Int...

14

Dec 2015

Solar Power May Expand In Chin...

13

Dec 2015

ABB Granted Core Membership In...

13

Dec 2015

Allianz Divesting From Coal &a...

13

Dec 2015

Risen Energy Building First Ph...

13

Dec 2015

Fraunhofer Researchers Develop...

10

Dec 2015

Greenlight Planet Introduces S...

09

Dec 2015

Three Clean Technologies Used ...

09

Dec 2015

SNV Promoting “Deforesta...

09

Dec 2015

The Dutch Spark For Clean Cook...

09

Dec 2015

Navigant Research: Majority Of...

05

Dec 2015

$900 Billion/Year Investment I...

03

Dec 2015

Toyota Beginning Trials Of 2-S...

03

Dec 2015

Greenpeace: Worldwide Coal Con...

30

Nov 2015

Deutsche Bank: Optimism For Fi...

30

Nov 2015

Study: Wind Energy & Solar...

27

Nov 2015

UK Closing All Coal-Fired Powe...

27

Nov 2015

CleanEdge “Getting To 10...

27

Nov 2015

RMI: More Than 2 GW OF New Ren...

26

Nov 2015

Report: G20 Spending $452 Bill...

26

Nov 2015

Barclays Achieves Green Bond I...

24

Nov 2015

Biggest Solar PV Project In Eu...

24

Nov 2015

Solar Costs Continue To Fall I...

24

Nov 2015

Deutsche Bank: Solar Is Now Th...

24

Nov 2015

Scotland To Be Home To World&#...

23

Nov 2015

Nigeria Sets 50% Renewable Ene...

23

Nov 2015

Pakistan’s Sindh Province Pr...

20

Nov 2015

Lower Austria Is Now Sourcing ...

20

Nov 2015

WRI: 8 Of The World’s To...

18

Nov 2015

Iran To Be Home To New 1.25 GW...

30

Aug 2014

~22% of the World’s Electricity Production Now from Renewable Energy

30 August 2014 | Posted by Zachary

~22% of the World’s Electricity Production Now from Renewable Energy

The International Energy Agency (IEA) has released a new report on global renewable energy matters. It's packed full of interesting stats, but one of the highlights is that ~22% of the world's electricity production is now coming from renewable energy sources.

That's up from 21% in 2012 and 18% in 2007. It's not equal to natural gas, which gets a lot of hype in the US for its low market prices and fast growth but which actually remained stable globally in 2013.

Another nice stat is that $250 billion was invested in renewable energy globally in 2013. That's impressive, but it needs to be even higher if we are going to adequately respond to the global climate challenge. Unfortunately, due to policy changes, the IEA projects that annual renewable energy investment will be flat up through 2020.

The full report, Medium-Term Renewable Energy Market Report 2014, can be purchased on the IEA website. Here are a few more charts and tables from it:

IEA Report

IEA Report

IEA Report

IEA Report

Post a Comment

Tweet
LinkedIn
industry news

~22% of the World’s Electricity Production Now from Renewable Energy

30 Aug 2014 | Posted by Zachary

The International Energy Agency (IEA) has released a new report on global renewable energy matters. It's packed full of interesting stats, but one of the highlights is that ~22% of the world's electricity production is now coming from renewable energy sources.

That's up from 21% in 2012 and 18% in 2007. It's not equal to natural gas, which gets a lot of hype in the US for its low market prices and fast growth but which actually remained stable globally in 2013.

Another nice stat is that $250 billion was invested in renewable energy globally in 2013. That's impressive, but it needs to be even higher if we are going to adequately respond to the global climate challenge. Unfortunately, due to policy changes, the IEA projects that annual renewable energy investment will be flat up through 2020.

The full report, Medium-Term Renewable Energy Market Report 2014, can be purchased on the IEA website. Here are a few more charts and tables from it:

IEA Report

IEA Report

IEA Report

IEA Report

Post a Comment

facebook tweet linkedin